Sovereign credit ratings, emerging market risk and financial market volatility
β Scribed by Helmut Reisen; Julia von Maltzan
- Publisher
- Springer-Verlag
- Year
- 1998
- Tongue
- English
- Weight
- 780 KB
- Volume
- 33
- Category
- Article
- ISSN
- 0020-5346
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π SIMILAR VOLUMES
ost empirical work and empirically oriented illustrations dealing with M the hedging effectiveness of futures contracts utilize either one of two approaches, namely: Risk minimization or payoff maximization. In the first approach, hedging is perceived as a combination of a futures position with an e
e development of futures markets in financial instruments has provided fi-T. nancial intermediaries, among others, with a vehicle for hedging against unanticipated changes in interest rates.' Protection against these fluctuations can benefit lending institutions which have exposed themselves to inte
## Abstract This study analyzes bank margins in the German secondary market for exchangeβtraded structured financial products, with particular emphasis on the influence of banks' credit risk. A structural model allowing for the incorporation of correlation effects between market and credit risk is